Highview has raised £130m to begin construction of a “stability island” at its planned more than 3GWh hybrid long-duration energy storage facility in Hunterston, Ayrshire.
The latest investment, from the Scottish National Investment Bank, Centrica, Goldman Sachs, KIRKBI and Mosaic Capital, brings total funding for Highview’s long-duration energy storage rollout to more than £500m.
The Hunterston phase one asset will deliver grid inertia, short circuit and voltage support services independently of the site’s storage system, helping alleviate grid stability issues and reduce wind curtailment in Scotland.
The stability island marks the start of Highview’s Millennium Series, which includes further 3.2GWh hybrid storage facilities planned across the UK. The next project in the series, a 300MWh liquid air energy storage facility at Carrington in Manchester, is already under construction.
Highview chief executive Richard Butland said: “This capital raise is an important milestone for Highview, enabling us to build out the first phase of our long duration energy facility at Hunterston. By delivering much-needed grid services in this location, our stability island asset will prevent costly curtailment and maximise the renewable energy that we generate in the UK.”
He added that the project “supports future Highview projects, as well as the UK’s wider green economy, driving skills development, job creation, and economic growth across the country.”
The Hunterston facility, located on the Peel Ports site in North Ayrshire, is expected to support 1,000 onsite jobs during construction and 650 in the wider supply chain. The stability island is scheduled to be operational by January 2028, with the full facility expected by 2030.
Scottish National Investment Bank chief investment officer Mark Munro said: “As Scotland scales its renewable energy production, it’s critical that grid resilience is fortified so that more of it can be used. Working in partnership with Highview, our investment in the development of this exciting project will deliver vital infrastructure to help ensure a more stable, clean energy future.”
Centrica group chief executive Chris O’Shea said: “Low carbon storage is an essential part of the solution for how we manage the energy system of the future, and Highview’s LDES system is the kind of innovative facility that is needed as the UK transitions to a more intermittent energy mix from renewables.”